Either we go to the previous top at 900 - maroon line
or we test major trendline, 6 or 7 hits in last 2 years approx
i will be looking for a trade at 1 or these 2 points
as you can see we have a trendline in support from almost 18 months ago, with 6 touches. never closed under this trendline
we have a trendline at the top, 7 months old, with quite a few touches as well, never close above this trendline.
but there is no more space to manouver, this will be decided in the next few weeks.
since jun 2019, buying AMZN just under the 200 DMA has been a very rewarding experience. See yellow line in chart
is this the big market correction, with amazon leading the way? or is buying AMZN under the 200 dma gonna be another good move?
Trade idea IMO would be to wait until AMZN is 5% under the 200 DMA, and then buy calls for 5 weeks out (thereby limiting...
20k is where the previous top was.
the weekly 200 MA will be around 20k by then.
12 months of bear. long enough for all the fan bois and get rich quick times to lose interest and move on.
seems like a reasonable place for bitcoin to bottom.
I still think its pretty decent odds of happening.
back to 30k for another bounce,
then finally a crash through 30k sometime in Sept/Oct after the next bounce
if bitcoin rallies to new all time highs (over 64k) it will be following a completely new pattern VS previous bulls. I think we are in a bear, and the bear will take 6 to 12 months to play out from here.
